Media 6: Reading Discussion – Week Two

A World of Differences by Chris Lederer and Megan Brownlow

____________

Throughout the report “A World of Differences”, Chris Lederer and Megan Brownlow examine the way in which entertainment and media (E&M) corporations can capitalise on the ever changing and dynamic industry they exist within.
Through the analysis of a range of worldwide statistics regarding the digital industry, Lederer and Brownlow list five ‘shifts’, which they identify to be “…a serious call to action for many of the industry’s incumbent leaders” (Brownlow & Lederer, 2016).
Though simultaneous and interrelated, Lederer and Brownlow identify these shifts as; demography, competition, consumption, geography and business models.

Demography, as explained by Lederer and Brownlow suggest that companies should not overlook the power of youth, as they consume more than their elders, and adapt much quicker – therefore they are more open to “digital spending”.
Shift number two speaks of competition, highlighting the concept of localized content. It is also noted that those companies who blend their international reach with a localized focus are more likely to thrive, as despite the fact the E&M industry is growing, “…cultures and tastes in content remain steadfastly local” (Brownlow & Lederer, 2016).
Next, Lederer and Brownlow inspect the notion of consumption. Here, audiences are reminded that “the bundle” is not dead; rather, it is redefining itself to the new generation. This is predominantly due to the fact that consumers “…still love the convenience of having their content aggregated in one place, rather than need to root it out across a bunch of disconnected services” (Brownlow & Lederer, 2016).
Geography and Business Models are the final two shifts, which both work to reconstruct and deepen business concepts to further relate and associate with consumers.

With the right strategies and recognition of shifts, Lederer and Brownlow maintain that for companies, opportunities put forward in the next few years are legion.

____________

References

Strategy + Business, Lederer. C, Brownlow. M. 2016. A World of Differences . [ONLINE] Available at: http://www.strategy-business.com/article/A-World-of-Differences?gko=895c8. [Accessed 26 July 2016].